Oil / Gas Exploration / Production

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Oando Energy Resources completes acquisition of Medal Oil

Friday, 11 Jul 2014 04:30pm EDT

Oando Energy Resources Inc:Completes the acquisition of Medal Oil Company Limited.Purchase price of $5,000,000 was satisfied by the issuance of 3,491,082 units.

CaiTerra International Energy Corp announces change of CEO

Friday, 11 Jul 2014 03:54pm EDT

CaiTerra International Energy Corp:Says Songning Shen, M.Sc., P.Geol, of Calgary, Alberta, has accepted invitations to join the board of directors and assume position of Chief Executive Officer of company.

Par Petroleum Corp plans to launch $100 million common stock rights offering

Friday, 11 Jul 2014 01:25pm EDT

Par Petroleum Corp:Says it intends to launch registered rights offering on or about July 21, 2014.In the rights offering, each holder of the Company's common stock as of the close of business on the record date of July 21, 2014 will be issued, at no charge, one transferable subscription right for each whole share of common stock owned by that stockholder on the record date.Company expects that its largest stockholder will subscribe for a number of shares of the Company's common stock representing its proportionate share of the rights offering.Offers number of shares of common stock in rights offering, inclusive of the over-subscription privilege, representing about $100 mln of gross proceeds.Company plans to use net proceeds from rights offering to finance potential acquisitions, including the previously announced pending acquisition of Koko'oha Investments, Inc., and for general corporate purposes, including working capital.

Oryx Petroleum Corp Ltd announces pricing of C$223,987,500 offering of common shares

Friday, 11 Jul 2014 08:34am EDT

Oryx Petroleum Corp Ltd:Priced an underwritten public offering of 19,910,000 common shares of at price of C$11.25 per common share for aggregate gross proceeds of C$223,987,500.Offering is underwritten by syndicate of underwriters comprised of BMO Capital Markets and Citigroup Global Markets Canada Inc., as global co-ordinators and bookrunners, and Merrill Lynch Canada Inc., RBC Capital Markets and Scotia Capital Inc., as joint bookrunners, and FirstEnergy Capital Corp.Intends to use net proceeds to fund $261 mln balance of lower range of Oryx Petroleum's reforecasted capital expenditure program for the fiscal year 2014, $17 mln in contingent payments and license acquisition fees, and for general working capital purposes.

Var'yeganneftegaz OAO appoints chairman

Friday, 11 Jul 2014 06:07am EDT

Var'yeganneftegaz OAO:Appoints Eric Maurice Liron to the post of chairman of the board of directors.

Roc Oil Co Ltd and Horizon Oil Ltd updates on merger

Friday, 11 Jul 2014 01:06am EDT

Horizon Oil Ltd:Says Horizon Oil Limited (Horizon Oil) welcomes outcome of Roc Oil Company Limited’s (Roc Oil’s) general meeting (EGM) held at which resolution to amend Roc Oil’s constitution was not passed by its shareholders.Resolution was proposed by shareholders holding 6.6 pct of Roc Oil shares.Board of Roc Oil unanimously recommended shareholders vote against the resolution.As consequence of the Roc Oil shareholder decision at the EGM, Horizon Oil’s proposed merger with Roc Oil by way of a scheme of arrangement (Scheme) remains on track.ROC shareholder approval will not be required in order to implement scheme.Independent expert report prepared for Horizon Oil in respect of the Scheme has concluded that the Scheme is in interests of Horizon Oil shareholders.Roc Oil board is also unanimously of the view that Scheme is in interests of all Roc Oil shareholders, supported by Roc Oil’s independent expert report.

Roc Oil Co Ltd and Horizon Oil Ltd updates on merger

Friday, 11 Jul 2014 01:06am EDT

Horizon Oil Ltd:Says Horizon Oil Limited (Horizon Oil) welcomes outcome of Roc Oil Company Limited’s (Roc Oil’s) general meeting (EGM) held at which resolution to amend Roc Oil’s constitution was not passed by its shareholders.Resolution was proposed by shareholders holding 6.6 pct of Roc Oil shares.Board of Roc Oil unanimously recommended shareholders vote against the resolution.As consequence of the Roc Oil shareholder decision at the EGM, Horizon Oil’s proposed merger with Roc Oil by way of a scheme of arrangement (Scheme) remains on track.ROC shareholder approval will not be required in order to implement scheme.Independent expert report prepared for Horizon Oil in respect of the Scheme has concluded that the Scheme is in interests of Horizon Oil shareholders.Roc Oil board is also unanimously of the view that Scheme is in interests of all Roc Oil shareholders, supported by Roc Oil’s independent expert report.

Shoal Point Energy announces closing of second tranche of private placement

Friday, 11 Jul 2014 12:00am EDT

Shoal Point Energy Ltd:Closes second and final tranche of non-brokered Private Placement.Consists of 15,553,500 units at a price of $0.05 for gross proceeds of $777,675.Each unit consisted of one share and one share purchase warrant.Each full warrant is exercisable at a strike price of $0.06 with an expiry on the second anniversary of the date of closing of the transaction.Proceeds will be used for general working capital.

Elk Petroleum Ltd announces underwriting of share purchase plan

Thursday, 10 Jul 2014 08:09pm EDT

Elk Petroleum Ltd:Says that company and DJ Carmichael have entered into an underwriting agreement whereby DJ Carmichael will underwrite SPP offer to A$1.0 mln.SPP provides for all shareholders to subscribe for up to an additional A$15,000 worth of shares at an issue price of A$0.12 per share.Attaching to every one share allotted under SPP, participants will receive one free listed option with expiry date of three years from allotment date and exercise price of A$0.25.SPP is capped at maximum amount of A$3,000,000.Applications to participate in SPP must be received by July 16.

Shoal Point Energy completes additional financing and Chairman change

Thursday, 10 Jul 2014 08:00pm EDT

Shoal Point Energy Ltd:To raise further $1,168,533 from the issuance of 19,395,556 common share units at $0.06 and 80,000 flow through common share units at $0.06.Common share units are comprised of one common share and one full warrant whereby each warrant entitles the holder to acquire one additional common share at a price of $0.15 for a period of 24 months.Proceeds to be used to reduce outstanding payables including settlements with certain officers and directors, to retire the outstanding convertible debenture and for general working capital purposes.Says Norman Davidson Kelly will not stand for re-election as Chairman.

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